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Discuss the extent to which rapid economic growth in India and China is beneficial.

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Introduction

Discuss the extent to which rapid economic growth in India and China is beneficial. According to the CIA World Factbook, India and China have achieved growth levels of 10.8% and 10.9% respectively. As their economies grow rapidly, people are able to achieve a higher standard of living and this has been seen particularly in China, where the number of people buying luxury goods as opposed to inferior goods has risen. The general wellbeing of the population can also rise, as better services can be provided by the Chinese and Indian governments. This is because the more people in employment, the more income tax can be collected. This allows them to gain more revenue which can be distributed in improving areas such as education and healthcare. ...read more.

Middle

In China, the incomes of the east which is mainly urban are more than twice as much as those of the west. This is mainly due to corruption and an unfair tax system. Governmental policies mean that the money does not get distributed well enough meaning those in the rural parts of the country see no improvement in services like education and healthcare, whereas in the urban parts there is significant improvement in things like infrastructure. In India the caste system is a form of discrimination which is leading to people being entrapped in a cycle of debt, because only certain groups of people are allowed to have good jobs. ...read more.

Conclusion

from taxes and cuts in expenditure in pensions which removes this opportunity cost, and allows more money to be spent in improving services in the west. Although environmental issues with growth are important, the Chinese and Indian governments are introducing measures to regulate measures and many are working on introducing new technology making this a mere short term issue. Although there is increased inequality, it is likely that in the future corruption will be removed as this is preventing China and India from reaching true super power status. Inequality needs to be looked at in great detail, however it is likely that the principle aim of the governments is to achieve economic growth, and ethical concerns may not be of a priority. ?? ?? ?? ?? ...read more.

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